Finance Minister Bill Morneau said Monday that Ashleigh Everett and John Montalbano, two business leaders with experience in Western Canada, would CPPIB’s governance team.Adrian Wyld/The Canadian Press
The Canada Pension Plan Investment Board is making two new additions to its board, as two veteran directors prepare to exit.
Finance Minister Bill Morneau said Monday that Ashleigh Everett and John Montalbano, two business leaders with experience in Western Canada, would join the pension plan's governance team.
To make room for them, former Methanex Corp. CEO Pierre Choquette and experienced lawyer Nancy Hopkins will be leaving the board. Both had been directors since February, 2008, and are based in Vancouver and Saskatoon, respectively.
The CPPIB's board members are typically appointed for three years at a time, but directors can also seek to be reappointed.
CPPIB seeks to pepper its board with experience from across Canada. Mr. Montalbano built his career in British Columbia at asset manager Phillips, Hager & North Investment Management Ltd., where he rose to the position of president. When PH&N was acquired by RBC Global Asset Management in 2008, Mr. Montalbano became CEO of RBC GAM and held the position until 2015. He is now a director on several boards.
Ms. Everett was born in Manitoba where she still resides and works as president, corporate secretary and director of Royal Canadian Securities Ltd., which controls a property development company, gas retailer and water purification business which operate predominantly in Western Canada. She is also a director of Manitoba Telecom Services Inc., and a former director of the Bank of Nova Scotia.
"Their experience will be a valuable asset to the CPPIB as it carries out its important role of investing Canada Pension Plan funds in the best interests of plan members," Mr. Morneau said in a statement.